Penske Automotive Group (NYSE:PAG) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Penske Automotive Group (NYSE:PAG) posted its earnings results on Thursday. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.37 by $0.17, Zacks reports. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%.

Penske Automotive Group Stock Down 1.0 %

Shares of Penske Automotive Group stock traded down $1.72 during trading on Friday, hitting $174.17. 324,947 shares of the stock were exchanged, compared to its average volume of 153,292. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 13.35 and a beta of 1.20. The firm’s 50-day moving average price is $160.49 and its 200 day moving average price is $160.44. Penske Automotive Group has a 12-month low of $142.32 and a 12-month high of $180.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a $1.22 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, February 24th. This represents a $4.88 annualized dividend and a dividend yield of 2.80%. Penske Automotive Group’s payout ratio is 36.48%.

Analyst Upgrades and Downgrades

Separately, Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.25.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.